Chennai drone startup Garuda confidentially files ₹1,000cr IPO with SEBI
Business
Garuda Aerospace, a Chennai-based drone startup, just filed confidentially for a ₹1,000 crore IPO with SEBI.
The plan includes raising ₹750 crore fresh and selling shares worth ₹250 crore.
Since it's a confidential filing, the company's financial details stay private for now.
Garuda reports ₹118cr revenue, ₹17.5cr profit
Founded in 2015, Garuda builds drones for everything from farming to disaster relief.
They run 400 drones with 500 trained pilots across 84 cities and offer over 50 different services.
Backed by investors like MS Dhoni and Ocgrow Ventures, they pulled in ₹118 crore revenue and made a profit of ₹17.5 crore last year.
Big names like SBI Capital and ICICI Securities are backing their IPO journey.